Rectification in pas-4 is it possible after filing


Dear Experts
I am a CS employed with a reputed private limited company.
My company had decided to raise significant amount of money in the form of preferntial shares from various HNI's.
These HNI's would be share holders in the company to the proportion money invested by them of the share price(FV+ Premium) that is fixed.
In this regards we received some money from few HNI's.In the interim certain non promoter companies who already have a substanial stake in the company in form of preferential shares committed to invest in the company along with the HNI's.


Thus the company filed the PAS-4 form after receiving money from the HNI's and the current committed amount of the non promoter companies.

However the non promoter companies are unable to invest any further amount in the company although the company has filed the proposed amount that will be paid by these current non promoter companies in the filed PAS 4.

At the same time there are certain other HNI's who want to invest in the company but since the current offer mentioned in the PAS 4 is not completed the company can accept the money and not file another PAS 4.

  1. I want to know from the experts that in the event can there be changes made in the submitted PAS 4 to ROC as the current non promoters are unable to purchase preferential shares in the company due to reasons best known to them.
  2. How can the company accept money from a different set of HNI's and still continue with the process of allotment of shares to these new HNI's even when the exsisting PAS 4 is not completed.

Please guide

Rakesh

 
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